The company was part of a larger Group of companies whose main customers were employment agencies that referred personnel to the Group. A total of c4,000 salary payments were processed by the Group on a weekly basis.
The company entered creditors’ voluntary liquidation in 2018 with the shareholders choice of liquidator being appointed.
McTear Williams & Wood appointment
The major creditor requested that the liquidators sought a decision from creditors under Section 171 of the Insolvency Act 1986 to appoint McTear Williams & Wood as liquidator. A decision procedure was duly convened and creditors voted to appoint us.
McTear Williams & Wood investigations
Immediately on appointment MWW secured the remaining books and records of the company including crucially the ‘payroll portal’. Access to the payroll portal allowed MWW to review the payroll records and establish that there was substantial underdeclared PAYE/NIC.
Following extensive investigations claims were brought against various parties which has resulted in additional realisations in excess of £10m.
If you would like to discuss any aspect of the investigation services we can offer or to arrange a confidential consultation please contact our UK market leading team of specialists on 0800 331 7417